According to the Vice President, Professor Yemi Osinbajo, the country is still one of the top hubs for business, trade, and investment despite the polarisation of Nigeria’s business environment and the numerous difficulties brought on by insecurity, uncertainty, political differences, and cultural differences.
The vice president revealed this yesterday at the official commissioning of Westlink Iconic Estate’s first phase. This project is a joint venture between Odu’a Investment Ltd. and Chapter 4 Estate Ltd., Ibadan.
His words: “I am delighted with what I’m seeing here today, this is no doubt, creating a new and vibrant neighbourhood in this part of the country; Oyo State. I am hopeful that with the example you have set, this can serve as a model for many others to follow.”
“The Nigerian business environment has been coloured and polarized with lots of challenges spawning fear as a result of insecurity, uncertainty, political, environmental and cultural disparities.”
“In spite of these challenges, Nigeria is slowly but surely checking the boxes when it comes to the ease of doing business, resulting in the country being one of the topmost hubs for business, trade and investment.”
“Nigeria is ranked 131 out of 190 economies in the world on ease of doing business, according to the latest World Bank ratings. This is an improvement after moving 15 places from 146 in 2018.”
He added: “In pursuance of this administration’s goal to further improve Nigeria’s ease of doing business ratings, President Mohammadu Buhari inaugurated the Presidential Enabling Business Environment Council (PEBEC), chaired by my humble self, in July 2016. PEBEC’s primary objective is to catalyse the country’s business environment, and to also maintain a proper business climate.”
“No doubt, the Ease of Doing Business reforms in Nigeria and the appeal to Nigerians in the diaspora, encouraged what we are seeing here today through this magnificent Joint Venture project between Odu’a Investment Company Limited and Chapter 4 Estates Management Ltd. UK.”
“What we see here today, confirms that there is a huge opportunity in Nigeria for investments in real estate industry. While government commits to creating an enabling environment, I will advise that we look to the private sector for investments to galvanize growth in the sector. We must indeed, work together to redefine the real estate industry for the future in Nigeria.
“Once again, I commend the sponsors of this great project, and encourage you to see this achievement as the beginning of what is possible with the blend of private partnership,” Osinbajo said.
